Platinum marketing organisation Platinum Guild International (PGI) has launched an information portal on responsible platinum to help the jewellery trade and consumers learn about how platinum is responsibly sourced, abiding by industry-leading guidelines concerning environmental standards, social impact and governance practices.
PGI explains that consumers are increasingly aware of the environmental and social impact of their jewellery.
In a cross-market survey of 4 300 jewellery consumers in the third quarter of 2022, PGI found that 94% of Indians, 87% of Chinese and 72% of Americans agree with the importance of sourcing jewellery responsibly.
Further, when considering buying jewellery, the criteria of responsibly-sourced materials was ranked as one of the top three most important factors in sustainability by consumers across four major platinum jewellery markets of China, India, Japan and the US.
The PGI developed its new responsible platinum information portal in response to this trend.
PGI CEO Huw Daniel says awareness about the factors of environment, social and governance, and responsible sourcing has grown globally throughout many industries, with the jewellery sector being no exception.
“Consumers are paying increasing attention to this trend and, in some markets, they are willing to choose jewellery that has a positive environmental and social impact at a premium.
“Leading platinum producers, who are also funding PGI, are actively driving a range of activities that put the environment and society at the heart of what they do.
“This platform showcases some of these initiatives that drive responsible platinum production and support local communities,” he says.
The platform also elaborates on platinum’s attributes that benefit society and the environment beyond jewellery. For example, platinum is an important ingredient in diesel catalytic converters to reduce emissions.
Platinum is also a key component of the hydrogen economy, which has the potential to provide zero-emission vehicles and energy storage solutions that contribute to combatting climate change.
Platinum is also biocompatible and used in pacemakers and other medical instruments placed in the body and platinum-based therapies have been at the forefront of cancer treatments.
More broadly on platinum as a metal, Daniel says it is a precious and rare metal with unique attributes. “Alongside creating stunning jewellery, platinum contributes to society and the environment. It is our mission to communicate its superior qualities to consumers and the jewellery industry.”